Wednesday, January 5, 2011
Technology Collaborative announces new companies, jobs and $1.2 M in early-stage awards
The Technology Collaborative (TTC) in Pittsburgh is off to a strong 2011 with 1.2 million in grants for 11 early-stage projects that show commercial promise, the formation of 10 new tech companies and the creation of 263 high-value jobs for the region.
The economic development organization, which moved last year to a smaller office on Technology Drive, supports the growth of world-class robotics, cyber-security and digital technologies industries in the region and across the state. The nonprofit receives funding from federal, state, foundations and member organizations.
While the outlook for TTC is bright, President and CEO David Ruppersberger cautions that the organization is largely dependent on state funding. "The signs are pretty positive. Hiring is picking up; we aren't seeing as much attrition. Even in the troubled economy, company formation and job creation results exceeded expectations for the year (which began July 1, 2010)."
In addition to the grants, jobs and new companies, TTC notes other highlights:
* For the first time, TTC received a grant from the Small Business Administration to place an emphasis on making the region a preferred location for global robotics companies.
* TTC's incubation facility in Oakland provided critical workspace for young companies including Bossa Nova, Bueda, Ciespace, SpiralGen, and Voci, formerly SiliconVox.
* 526 students at Carnegie Mellon University, University of Pittsburgh and Penn State participated in the Collaborative System-On-Chip curriculum.
* The Talent Recruiting program continued to source hard-to-find talent for TTC member companies as the employment situation stabilized in the latter part of 2010.
Article courtesy of Popcity